GCZ09 – Comex December Gold (Last:948.30)

The rally’s stall at 963 yesterday validates a yet-to-be-achieved rally target at 982.60, since the target’s midpoint sibling is 962.40 — just 0.70 from the intraday high. The target looks like it’s in-the-bag to me, but I’ll be watching to see whether the futures push past it without much fuss, presumably drawn by a magnetic supposed barrier at $1000. _______ UPDATE (1:03 p.m.): Gold relapsed into randomness today with a presumably gratuitous dive that has so far failed to breach the 942.10 low (aka “point C”) from which the midpoint and target given above were derived.